StockNews.com Begins Coverage on TimkenSteel (NYSE:TMST)

StockNews.com started coverage on shares of TimkenSteel (NYSE:TMSTFree Report) in a research report released on Sunday. The brokerage issued a hold rating on the basic materials company’s stock.

TimkenSteel Price Performance

TimkenSteel stock opened at $20.40 on Friday. The company has a market cap of $880.26 million, a PE ratio of 30.00, a P/E/G ratio of 0.70 and a beta of 1.51. The company has a fifty day moving average price of $20.74 and a two-hundred day moving average price of $20.98. TimkenSteel has a 12 month low of $15.59 and a 12 month high of $24.30.

Insider Activity

In other news, CEO Michael S. Williams sold 11,553 shares of the business’s stock in a transaction on Thursday, January 11th. The shares were sold at an average price of $20.62, for a total transaction of $238,222.86. Following the completion of the transaction, the chief executive officer now owns 358,725 shares of the company’s stock, valued at $7,396,909.50. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CEO Michael S. Williams sold 11,553 shares of TimkenSteel stock in a transaction dated Thursday, January 11th. The shares were sold at an average price of $20.62, for a total transaction of $238,222.86. Following the sale, the chief executive officer now directly owns 358,725 shares in the company, valued at $7,396,909.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Kevin A. Raketich sold 2,000 shares of TimkenSteel stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $20.42, for a total transaction of $40,840.00. Following the sale, the executive vice president now owns 80,902 shares in the company, valued at $1,652,018.84. The disclosure for this sale can be found here. Over the last quarter, insiders sold 38,018 shares of company stock valued at $786,909. 1.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On TimkenSteel

A number of hedge funds and other institutional investors have recently modified their holdings of TMST. State Street Corp raised its position in TimkenSteel by 30.4% in the first quarter. State Street Corp now owns 3,715,946 shares of the basic materials company’s stock worth $81,305,000 after acquiring an additional 865,868 shares in the last quarter. Bank of America Corp DE raised its holdings in TimkenSteel by 482.2% during the 4th quarter. Bank of America Corp DE now owns 911,841 shares of the basic materials company’s stock worth $16,568,000 after buying an additional 755,214 shares during the period. Arrowstreet Capital Limited Partnership acquired a new stake in TimkenSteel during the 4th quarter worth about $5,683,000. Invesco Ltd. raised its holdings in TimkenSteel by 26.7% during the 1st quarter. Invesco Ltd. now owns 1,399,149 shares of the basic materials company’s stock worth $30,614,000 after buying an additional 294,913 shares during the period. Finally, Citadel Advisors LLC raised its holdings in TimkenSteel by 612.8% during the 3rd quarter. Citadel Advisors LLC now owns 330,182 shares of the basic materials company’s stock worth $4,949,000 after buying an additional 283,863 shares during the period. 78.28% of the stock is currently owned by institutional investors.

TimkenSteel Company Profile

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TimkenSteel Corporation engages in manufacture and sale of alloy steel, and carbon and micro-alloy steel products in the United States and internationally. It offers carbon, micro-alloy, and alloy steel ingots, bars, tubes, and billets. Its products are used in gears; hubs; axles; crankshafts and connecting rods; oil country drill pipes; bits and collars; bearing races and rolling elements; bushings; fuel injectors; wind energy shafts; anti-friction bearings; and other applications.

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